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JPMorgan returns to a profit in fourth quarter

Published: Tuesday, June 30 2015 4:53 a.m. MDT

In this photo provided by the Robin Hood Foundation, Jamie Dimon, Chairman of the Board and Chief Executive Officer of JP Morgan Chase & Co., speaks at the inaugural Robin Hood Investors Conference in New York, Friday, Nov. 22, 2013. JPMorgan Chase & Co. reports quarterly financial results before the market opens on Tuesday, Jan. 14, 2014. (Robin Hood Foundation, Craig Warga, Associated Press) In this photo provided by the Robin Hood Foundation, Jamie Dimon, Chairman of the Board and Chief Executive Officer of JP Morgan Chase & Co., speaks at the inaugural Robin Hood Investors Conference in New York, Friday, Nov. 22, 2013. JPMorgan Chase & Co. reports quarterly financial results before the market opens on Tuesday, Jan. 14, 2014. (Robin Hood Foundation, Craig Warga, Associated Press)

NEW YORK — JPMorgan Chase, the biggest U.S. bank by assets, says it returned to a profit in the fourth quarter.

The bank said it had net income of $5.3 billion in the last three months of 2013, compared with a profit of $5.7 billion in the same period a year earlier.

On a per-share basis, JPMorgan said it had earned $1.30 a share in the quarter, compared with $1.39 a share a year earlier.

Revenue fell 1 percent to $24.1 billion, just above analysts' expectations of $23.9 billion.

The bank reported a loss in the third quarter, due to the bank's mounting legal costs. It was the bank's first quarterly loss in 10 years.

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